669: Seeing Greene: Is BRRRR Investing About to Get Even Better?

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 2 October 2022

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

BRRRR investing has become one of the most popular real estate investing strategies across the United States. But, the great contractor shortage of 2020 and 2021 almost decimated BRRRR investors. Record high prices, dragged-out timelines, and the inability to rely on almost anyone to fix up houses brought this strategy close to extinction. But now, we’re seeing a second wind of BRRRR investing as contractors aren’t being stretched so thin and competition for real estate starts to slump. Welcome back to another episode of Seeing Greene, where your “I don’t seek validation, validation seeks me” host, David Greene, is back to answer your questions on anything related to real estate. In this episode, we talk about investing methods such as the BRRRR strategy, real estate syndication investing, becoming a real estate professional, and more. We’ll also touch on some deeper topics like why so many new real estate investors crave validation, how to know when to fire your property management company, and the medieval meaning of “racking your brain.” Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot! In This Episode We Cover: How less competition for contractors could make the BRRRR strategy much more viable in 2022 Real estate syndications vs. investing in your own deals (and how to know which is a better choice) Becoming a real estate professional to significantly lower your taxable income Refinancing a property even if you lack a W2 or don’t have consistent income The right way to find a mentor and taking the “apprenticeship” role instead of asking for advice When to switch property managers and questions to ask before you let them go And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram Find the Real Estate Professional You Need BiggerPockets Podcast 378 with Brian Burke BiggerPockets Podcast 649 with Alex Hormozi Books Mentioned in the Show: Buy, Rehab, Rent, Refinance, Repeat by David Greene Long-Distance Real Estate Investing by David Greene Investing in Real Estate with No (and Low) Money Down by Brandon Turner Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-669 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast. Show 6.69.
0:04.6	Get yourself around other people that are committed to their goals, and it doesn't have to be real estate.
0:09.2	Get yourself around other people that are committed to staying in the gym.
0:12.3	Get yourself around other people that are committed to eating health to your foods.
0:15.5	Get yourself around other people that are committed to having better marriages or being better parents
0:19.7	or managing their wealth better.
0:21.8	The first thing that you can do is when you start telling other people
0:25.3	good job for what you did, it will sort of silence the need you have inside yourself to hear it.
0:31.2	I don't know why it works like this, but it's almost equivalent of if you're really hungry,
0:34.9	but you give someone else food, your hunger can go away.
0:38.0	What's going on everyone? This is David Green. You are host of the Bigger Pockets Real Estate
0:42.0	Podcast. Here today with a seeing green episode. If you're new to Bigger Pockets, you're going to
0:48.1	love it. This is a place where the best real estate investors in the world come to learn how to
0:52.2	invest in real estate and build big wealth. If this is your first time hearing a seeing green
0:56.5	episode, you're in for a treat. In these shows, we take questions directly from our community,
1:01.6	areas that they're stuck in, advice that they need, hurdles are having a hard time overcoming,
1:06.3	or they've got a bunch of different options. They don't know which is the best one to take.
1:10.0	I do my best to give them advice from my perspective as the person who's seeing green.
1:16.0	Today's show, we've got some really good stuff. We get into a very good conversation about
1:21.7	the timeline. You should give a property manager to turn a property around as well as what you
1:26.8	should look for if you're going to switch to a new property manager. We talk about what the IRS
1:31.3	considers a real estate professional and how you can take advantage of all the tax benefits
	...

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